Bow Wave Issue 642–Love and Bingo Edition

hurricaneKatrina

CONTENTS

1. Welcome
2. Liability and Compensation for Ship-Source Oil Pollution
3. Seminar–PRC Supreme People Court’s Forwarder Rules
4. IUA Working Group on UK Insurance Supervision
5. UK Scientists Add to Quiet Hurricane Forecasts
6. And Finally

Broadly Boats News

Firetrench Directory

1. Welcome

Poem of the Week

Sea Fever–The Convalescence

I must go down to the sea again, to see what it’s all about.
As an innocent boy, ‘twas an absolute joy; and a sailor I’d be, without doubt;
And I dreamed much and I schemed much as to how it all would be;
In my satchel bag I would carry a flag: For I was going to sea.

I must go down to the sea again, for there I began to learn
The Rule of the Road and the Semaphore Code, transverse thrust and the Williamson turn.
To my ears and eyes there was frequent surprise. Not much had I learned as a scholar.
But I joined the men and I saw it then as a method of earning a dollar.

I must go down to the sea again, for here was a new education;
Neither Latin nor Greek any day of the week; but a service in need of the nation,
In many a ship and aboard any ship, the privilege then was to serve:
To do your best and to puff out your chest; and to hold a straight face and your nerve.

I must go down to the sea again, for those were the days of my youth.
They confirmed a rule that I’d learned at school; to hold for your life to the truth.
For the tide flows and the wind blows; and these things no man can deny:
And the man who forgets will accrue many debts; and will leave himself wondering, Why?

I must go down to the sea again, for this is the place of my birth,
Or somewhere near, in that long-ago year. It gave me much pleasure and mirth.
‘Twas a life rarely bad for a strapping young lad; though, some might assume, not a high lot.
Regrets? I have none. I’m a mariner’s son. And much did I learn as a pilot.

I must go down to the sea again, to make sure that it’s all still there.
To hear once again the old talk of the men, with sometimes a kindness to share.
For the bluff life and the gruff life had honesty running right through it.
‘Twas a tough life, an enough life. May God bless the men who still do it.

Barry Youde — 27th April 2012

[With apologies to both Masefield and WS Gilbert]

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New Readers this Week Include:-

Juan Martinez of Pequod Associates in New York
Clive Bullard
Salvage Guru John Noble

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News of Readers

Andrew Brooks of Ascot, Charles Franks of Kiln, Andrew Kendrick of Ace and Michael Watson of Canopius have been elected to the board of the Lloyd’s Market Association (LMA).The four men have been elected for three-year terms after the most competitive election in the trade body’s history.

Ian Beaton (Ark), Martin Hudson (Mitsui Sumitomo), David Reeves (Barbican) and Nicholas Sinfield (Catlin) were the unsuccessful candidates.

The LMA also announced that it has nominated four underwriters who will sit on the board until the next AGM. They are Steve Eccles from Travelers, Dominick Hoare from Munich Re (Watkins), Rob Littlemore from Catlin and Colin Sprott from XL.

The remaining members of the board are chairman Rupert Atkin (Talbot); deputy chairman Bob Stuchbery (Chaucer); David Gittings; John Dunn (Liberty); David Harris (Amlin); Lawrence Holder (Cathedral), who is also a member of the Lloyd’s Council; Neil Maidment (Beazley); Jeremy Pinchin (Hiscox); and Matthew Wilson (Brit).

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Readers Write

From Jurgen Schulze:-

It appears that CCIC has become the unwitting victim of forgeries of its Quality and Weight Certificates. A company in the Philippines instructed CCIC to perform a survey, paid for the service, and then received CCIC’s Quality and Weight Certificates. Using these (entirely legitimate) documents, the same company then used these originals as templates for its own forged versions that were presented under a Letter of Credit to receive payment for non-existant goods. Having met with CCIC in Manila last week, it appears that these forgeries were not particularly brilliant, starting with the fact that the CCIC logo was already incorrectly transferred to the forgeries. All this could have been avoided if the purchaser of the (non-existant) goods had taken the precaution of asking CCIC for verification of the documents that were presented by the Philippine seller. Needless to say, the Philippine seller (and those individuals representing the entity) have somewhat hastily vacated their offices and changed telephone numbers as well as email addresses. As the (non-existant) goods were sold “C&F”, it is possible that the Philippine seller may even have had the idea of insuring the transport of the (empty) container, and once the “shortage” was noted by the consignee, try his luck a second time by submitting an insurance claim. The goods in question consisted of titanium scrap. Hence, anyone currently involved in a claim relating to the alleged shortage of titanium scrap during a shipment from the Philippines to the US in November 2011: beware.

jurgenschulze@usa.net

———-

From Capt Singh of Fichte & Co in Dubai

A United Arab Emirates (UAE) federal court has just convicted 10 Somali pirates to a life sentence in jail.the federal criminal court found the men guilty on multiple charges connected to the hijacking of the MV Arrilah-1 bulk carrier last year. The pirate group was ultimately captured during a raid to reclaim the vessel.

The UAE-owned Arrilah-1 was transporting aluminum when it was attacked in the Arabian Sea off the coast of Oman on April 1, 2011. Emirati commandos supported by the US Navy’s 5th Fleet later regained the vessel and captured the pirates while crew members huddled in a secure room onboard.

http://www.fichtelegal.com

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FOB Network News

One of our favourite pieces on FOB comes from PR man Jim Rhodes, who does good work:-

Delighted, Pleased and Happy

I have to get this off my chest.
I can’t stand attributed quotes in press releases that start, “We’re pleased that….”
Or “We’re delighted…”
Or “We’re excited…”
Or “We’re thrilled…”
Or any other variation on the same theme.
Makes my skin crawl.
Years ago, an editor whom I admired greatly told me he had an ironclad policy of throwing out every press release with those offending words… Read the rest at:-

http://rhodescomm.com/_blog/Observations/post/Delighted,_Pleased_and_Happy/

Join the FOB Network, surf the good writing therein and and find your favourites. Nearly 3000 members now. FOB is aimed at the sort of people who read Bow Wave.

http://www.fobnetworking.com

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Note from the Editor

Some good stories this week, including a brand new book on oil pollution from the people at UNCTAD. Armed with this, a claims person can consign his or her bluffers’ guide to oil pollution to the bottom drawer.

Readers of the new improved html version of this zine may have noticed we now have the ability to carry banners. Ask us for terms if you would like to post one on Bow Wave.

BTW, for those Readers who are keen on horse racing, Mrs Ignarski is tipping Mariner’s Cross to win the Derby.

Enjoy!

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2. Liability and Compensation for Ship-Source Oil Pollution

Regina Asariotis of UNCTAD writes:-

The UNCTAD secretariat has recently published a report entitled “Liability and Compensation for Ship-Source Oil Pollution: An Overview of the International Legal Framework for Oil Pollution Damage from Tankers” (UNCTAD/DTL/TLB/2011/4). The report highlights important features of the international regulatory framework as well as issues of particular interest to coastal developing countries that may be vulnerable to ship-source oil pollution.

By way of background, it should be noted that around half of the global crude oil production is carried by sea. Much of this navigation is taking place in relative proximity to the coasts of many countries, in some cases transiting through constrained areas or chokepoints, such as narrow straits and/or canals. At the same time, the steady growth in the size and carrying capacity of ships transporting cargo of any type means that significant quantities of heavy bunker fuel are carried across the oceans and along coastal zones. With many coastal or Small Island Developing States’ economies heavily dependent on income from fisheries and tourism, exposure to damage arising from ship-source oil pollution incidents poses a potentially significant economic threat.

As concerns oil-pollution from tankers, a robust international legal framework is in place to provide significant compensation to those affected. However a number of coastal states, including developing countries that are potentially exposed to ship-source oil-pollution incidents, are not yet Contracting Parties to the latest legal instruments in the field. To assist policy makers in their understanding of the international legal framework and in assessing the merits of ratification, the report provides an analytical overview of the relevant legal instruments and offers some considerations for national policy making. While the focus of the report is on tanker oil pollution, it also highlights the importance of two related international Conventions, namely the 1996 Hazardous and Noxious Substances (HNS) Convention as amended by its 2010 Protocol (2010 HNS Convention) and The 2001 Bunker Oil Pollution Convention (BOPC).

[This kind of thing is a great boon for non-specialists like your editor–we would be very interested in feedback on it from our oil pollution gurus-ed].

The report is available on the UNCTAD website at:-

http://unctad.org/en/PublicationsLibrary/dtltlb20114_en.pdf

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3. Seminar–PRC Supreme People Court’s Forwarder Rules

Our friends Richard and Simon Chan of brokers Sun Mobility are holding an interesting seminar addressing the regimes governing forwarders in China. Readers who are around Hong Kong and dispose over the Cantonese language are bound to learn something new from the highly professional Chans. They write:-

The PRC’s Supreme People Court has implemented two sets of Rules dealing with the matters and claim cases concerning forwarders. The set of 15 Rules has been effective since 5/3/2009, and the other set of 16 Rules has recently been effective since 1/5/2012. These two sets of Forwarder Rules are obviously very important to the forwarders which do businesses in the PRC since they greatly affect the risks, liability and survival of the forwarders.As part of our risk management services to the transport industry, we together with the PRC shipping law firm WangJing & Co are holding a seminar to examine the two sets of Forwarder Rules in detail.

1. Date:Wednesday, 18 July 2012 (2:15pm – 4:30pm)
2. Venue:YMCA of Hong Kong – Assembly Hall, 4/F North Tower 41 Salisbury Road, Tsimshatsui, Kowloon, Hong Kong
3. Speakers:Mr Chen Xin (Shanghai office) and Mr Yuan Hui (Qingdao office) of Wang Jing & Co
4. Language:Cantonese
5. Fee:HK$250 per person

http://www.scribd.com/doc/95336775/PRC-Supreme-People-Court-s-Forwarder-Rules-Form

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4. IUA Working Group on UK Insurance Supervision

Scott Farley writes:-

More information is needed on how the UK’s two new insurance regulators are going to cooperate, a new International Underwriting Association market group has stated.

The Regulatory Reform Working Party was established by the IUA to debate and comment on the development of a new regime for insurance supervision. It is made up of legal and compliance officers from across the association’s member companies and will be carefully monitoring the establishment of both the Prudential Regulatory Authority (PRA) and Financial Conduct Authority (FCA).

Members of the working party have already met to establish a programme of activity. This will include examining the role of the FCA in the insurance industry, the interaction of both new bodies with other international supervisors and the processes for consultations, complaints and appeals.

The first item on the agenda, however, has been to analyse the relationship and division of responsibilities between the PRA and FCA. A draft ‘Memorandum of Understanding’ has been drawn up to address this question, but it does not contain sufficient clarity and detail, the IUA’s working party believes.

Nick Lowe, the IUA’s Director of Government Affairs, commented: “The Memorandum of Understanding indicates that coordination and cooperation between the FCA and PRA are important.

“However, it does not sufficiently emphasise this vital issue and there a lack of information about how officials will organise this cooperation. There needs to be much more emphasis on how staff at various levels within the two regulators will liaise to ensure that the regulatory burden placed on companies is reasonable, cost-effective and fair.

“In a number of instances it appears that issues concerning the banking sector have been properly worked through while insurance aspects have not.”

[The new bodies can hardly do worse than the predecessor regulators who, it may be recalled, entirely missed the investment insurance activities of the AIG’s London office, whose activities led to a a near global melt down of the financial market–ed]

scott.farley@iua.co.uk

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5. UK Scientists Add to Quiet Hurricane Forecasts

The Insurance Insider, which appears under the aegis of Peter Hastie and which is the best publication on the international insurance market that we know, has recently published this alert, which supposes that the windy season ahead will be mild:-

More climate scientists have joined the list of forecasters predicting a less active hurricane season in 2012 than has been the case in recent years.Despite the forecasts, Alberto, the first named Atlantic storm of the season, has already been and gone ahead of the season’s official 1 June opening.

Meanwhile Hurricane Bud, a category 1 hurricane, is forecast to strengthen somewhat before weakening as it approaches the southwestern coast of Mexico on Friday (25 May), according to the US National Hurricane Center.

The UK Met Office forecast that seven to 13 tropical storms would emerge during this year’s season, below the average of 12 recorded from 1980-2010.

Although no storms caused significant insurance losses, the past two years were particularly active with 19 storms striking per season, the weather service noted.

The Met Office also said it expected storm strength to be slightly lower than average this year, with a most likely value of 90 on the Accumulated Cyclone Energy (ACE) index compared to the 1980-2010 average of 104. However, there was a relatively wide range in the ACE index for 2012, with a 70 percent chance that the number would be between 28 and 152. This was partly due to uncertainty over how the El Niño/La Niña cycle would evolve over the next few months.

El Niño conditions in the Pacific can hinder the development of tropical storms in the Atlantic.

Meanwhile, Aon Benfield’s Tropical Storm Risk (TSR) service also forecast that Atlantic hurricane activity would be 10-40 percent below the past 10-year average. However, activity would still be close to long-term norms since 1950, TSR said. Its latest forecast is slightly higher than its initial April prediction, with an updated estimate of 13 storms, including six hurricanes and three intense hurricanes – on par with long-term norms of 11, six and three respectively. However, TSR forecast a 48 percent probability that US landfalling hurricane activity would be above long-term norms with potential for four tropical storm strikes on the mainland including two hurricanes.

This compares to long-term norms of three and 1.5 respectively.

Professor Mark Saunders at TSR noted that the US was overdue for a landfalling hurricane strike. Only one hurricane (Irene) has struck the US in the last three years and no major hurricane has struck the US since Wilma in 2005. On average, four or five landfalling hurricanes would strike the US over a three-year period and four major hurricanes would strike over six years. “Nature has a habit of correcting herself,” he warned.

Alberto, the first named Atlantic storm of the season, has already been and gone ahead of the official 1 June opening.

http://www.insuranceinsider.com

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6. And Finally…

From Love to Bingo in 873 Frames

Courtesy of the Browser comes this very short, but very good film based on photos in the Getty Images Collection. A fabulous job of design and editing, not to say oddly moving.

http://www.youtube.com/watch?feature=player_embedded&v=E7xc7J8bdsU

[This item first appeared in the Video Show Group of FOB Network]

http://www.fobnetworking.com

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Do you have an insurance matter which is hard to place or hard to deal with? Reinvention Ltd–Our motto is happy to help. Click on the banner below. We may not know the answer but we know a person who does.

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Beware Serpents

Thanks to Paul Dixon for this one:-

Grass snakes can be dangerous. Yes, grass snakes, not rattlesnakes.

A couple had a lot of potted plants, and during a recent cold spell, the wife was bringing a lot of them indoors to protect them from a possible freeze. A little green snake was hidden in one of them and when it was sufficiently warmed up, it came slithering out and went under the sofa. The wife saw it and let out a big scream.

The husband was taking a shower but, when he heard his wife scream, ran to see what the problem was. She told him there was a snake under the sofa. He got down on the floor to look for it.

About that time the family dog came and cold-nosed him. He thought the snake had bitten him, so he fainted. His wife thought he had a heart attack, so she called an ambulance. The attendants rushed in and loaded him on the stretcher and started carrying him out.

About that time the snake came out from the sofa. The EMS saw it and dropped the stretcher. That’s when the man broke his leg and why he is in the hospital.

The wife still had the problem of the snake in the house, so she called on a neighbor man. He volunteered to capture the snake, so he armed himself with a rolled-up newspaper and
began poking under the couch. Soon he decided it was gone.

The wife sat down on the sofa in relief. But as her hand dangled in between the cushions, she felt the snake. She screamed and fainted, the snake rushed back under the sofa, and the neighbor man tried to use his long forgotten CPR skills.

The neighbour’s wife, who had been at the grocery store, saw her husband’s mouth on the woman’s and slammed her husband in the back of the head with a bag of canned goods, an injury calling for hospitalization. The noise woke the woman from her dead faint.

She saw her neighbour lying on the floor with his wife bending over him, so she assumed he had been bitten by the snake. She went to the kitchen, brought back a small bottle of whiskey,and began pouring it down the man’s throat.

By now the police had arrived. They saw the unconscious man,smelled the whiskey and listened as the two women tried to explain how it all happened over a little green snake. They called an ambulance, which took away the neighbour and his sobbing wife. That put the woman and the snake right back in worse shape than they were in when the whole thing started.

The snake was badly unnerved, As was the woman.

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P.S. From Peter Hughes at Middlesex University:-

Mrs Smith was an elderly poor widow. Every month her Health Visitor came to make sure she was OK and every month, as the Visitor was leaving, she would push a bag of Brazil nuts into their hand as appreciation.

After this had happened on three or four occasions, the Visitor suggested that although this was very kind, perhaps it would be better if she spent the money on herself.

“Oh, it’s not a problem. My son gives them to me and it is as much as I can do to suck the chocolate off them!”

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